Data Analytics in Audit

In audit terms, data analytics in audit is a tool which auditors can use to analyse large volumes of data, to asses risks in a population and identify items for further testing.

The main benefits are:

– Enhanced audit quality

– Improved audit effectiveness

– Mitigating risks of fraud

Data analytics should increase; the focus, approach to risk, and the outcome from the audit process.

Paul Spencer

Professional: Paul is a qualified ICAEW chartered accountant and has been a member of the firm’s audit team for a number of years. Paul has a wealth of experience working with clients in the manufacturing sector and groups, including a number of owner managed businesses.